Stock fact sheet · data as of
Citizens & Northern Corporation (CZNC): fair value, margin of safety and Wheel Score
Ticker symbol CZNC · Financial Services · Banks - Regional · United States · Value
Is CZNC undervalued?
CZNC closed at 28.56 on 5 Nov 2026, 12% below the GLS average fair value of 32.46 from 9 models (4 of them above the price). That is a moderate margin of safety: the stock passes the "below fair value" Wheel Trade Filter, with room for a bigger discount on the Value part.
The 9 models disagree widely: GLS Growth gives 8.82 while Graham Growth gives 65.41. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, CZNC is clearly cheaper than it is fast-growing, so the nightly engine files it under Value (value score 52, growth score 27, out of 100).
Nine valuation models for CZNC
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 12.74 | -55% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 29.26 | +2% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 65.41 | +129% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 25.07 | -12% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 8.82 | -69% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 60.52 | +112% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 51.69 | +81% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 16.77 | -41% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 21.91 | -23% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -153.03 | -636% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 23.50 | -18% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health CZNC scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is 6.5 out of 10: a record that is solid on some of the four parts the score weighs (returns on capital, pricing power, lasting growth, balance sheet) and weaker on others.
Returns on capital are thin or negative - ROIC 4.4%, ROE 6.9%, ROA 0.7% - with debt at 0.56 times equity and a free-cash-flow yield of 8.8%.
The dividend yield is 3.99% at a payout ratio of 50%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Deposit Account 53%, Debit Card 41%, Bank Servicing 6% (quarter Q2 FY2026).
Institutional ownership scores 4/10, insider activity 7/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 4.4% |
|---|---|---|---|
| GLS Moat | 6.5 / 10 | ROE | 6.9% |
| Debt / equity | 0.56 | ROA | 0.7% |
| Free-cash-flow yield | 8.8% | Payout ratio | 50% |
| Institutions | 4 / 10 | Insiders · Congress | 7 · 5 / 10 |
Wheel Score 43: Weak
CZNC scores 43 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 1, options that actually trade - options too quiet (654 open interest, 198 a day); and filter 8, big enough - market cap $512M (under $1.0B), and the parts are thin too - value fair, premium strong, moat good, health good, red flags strong, option trading weak, stability fair. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 43% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 654 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 77k shares a day on a market cap of $512M, with a beta of 0.39 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (654 open interest, 198 a day) |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $512M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Fair | 12% below fair value | |
| Premium | Strong | implied volatility 43% | |
| Moat | Good | moat 6.5/10 | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Strong | Red Flags score 90/100 | |
| Option trading | Weak | 198 contracts a day, 654 open interest | |
| Stability | Fair | beta 0.39, $512M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 27 Jan 2027, 83 days away - outside the window of a 30-45-day put sold today.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to Citizens & Northern Corporation by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| FMAO Farmers & Merchants Bancorp, Inc. | 37.48 | 38.63 | +3% | 41Weak | $516M |
| FRBA First Bank | 20.54 | 28.65 | +28% | 48Weak | $508M |
| FFMR First Farmers Financial Corporation | 37.50 | 61.98 | +39% | 38No options | $520M |
| PBAM Private Bancorp of America, Inc. | 87.43 | 129.30 | +32% | 33No options | $501M |
| WTBA West Bancorporation, Inc. | 31.13 | 31.73 | +2% | 40Weak | $531M |
| PDLB Ponce Financial Group, Inc. | 22.18 | 71.16 | +69% | 46Weak | $536M |
| HBCP Home Bancorp, Inc. | 61.91 | 89.80 | +31% | 53Fair | $487M |
| OBT Orange County Bancorp, Inc. | 40.42 | 67.81 | +40% | 32No options | $542M |
| NRIM Northrim BanCorp, Inc. | 24.50 | 63.91 | +62% | 50Fair | $545M |
| BMRC Bank of Marin Bancorp | 29.52 | 51.77 | +43% | 48Weak | $479M |
| BSRR Sierra Bancorp | 42.85 | 69.67 | +38% | 56Fair | $556M |
| SUPV Grupo Supervielle S.A. | 5.89 | 3.67 | -61% | 13Weak | $557M |
⚖ Compare CZNC with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about CZNC
Is CZNC undervalued right now?
By the GLS models, moderately: at 28.56 the stock trades 12% below the average fair value of 32.46 (data as of 5 Nov 2026).
What is the Wheel Score of CZNC and what does it mean?
CZNC scores 43 out of 100 (Weak) - it fails Wheel Trade Filters 1, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for CZNC?
32.46 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Citizens & Northern Corporation report earnings next?
The next earnings report is due on 27 Jan 2027, 83 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does CZNC have listed options, and how liquid are they?
Yes. The nightly snapshot found 24 listed contracts with 654 open interest across all expiries and implied volatility of 43% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.